55 Unit Non-Franchised Seasonal Motel

New Listing

Listing ID: 1229

Location

Nova Scotia

Description

A consistent performer and ready for the next boom, this 55 unit limited service seasonal property operates from May - October and is well positioned geographically and physically to continue benefiting from the strong demand that is experienced year over year. Ideally located in a popular area, it is a strategic stopping place for many tourists and tour operators.

3.8 star rating on Google. 3 star Canada Select Rating. General Manager (non-owner) + 25 FT and PT staff required during peak season.

By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most all of your questions.


Financial Information

Room Revenues:

2019 - $784,935
2018 - $770,615
2017 - $740,534

Seller's Discretionary Earnings (the following numbers are the profits after paying the General Manager's salary):

2019 - $413k
2018 - $419k
2017 - $386k

* SDE - Seller's Discretionary Earnings are the pretax and pre-interest profits before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. In addition, SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.

** Our expectations are for a minimum 35% down payment on the final negotiated purchase price, with the balance being financed with a new mortgage, 20 year amortization, 1 - 5 year term, with an approximate interest rate of 4%.

Minimum Equity Required

$1,000,000

Real Estate

Situated on 2.93 acres
Well, town water and sewer.

Property has undergone many update, including window replacements, roofing, upgraded mechanical, room updates, etc. The overall fit, finish, and condition happily satisfies its customers. There are owner's quarters on site.

Price

$2,999,000

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